Thursday, 18 May 2017

How
should a personal representative (PR)deal with a request from a beneficiary
for an interim distribution before the estate is finalised?Estates can take many months to conclude but
a beneficiary may be in need of some of their inheritance sooner.Can an executor help out without putting him
or herself on the line?

Thursday, 4 May 2017

The Finance Bill 2017 contained a
number of measures altering the way in which long term UK resident non-doms and
UK residential property held in certain offshore entities would be taxed in the
UK.However, last week it became clear
that all of the non-dom tax changes
would be dropped from the Finance Bill, to allow a slimmed down version of the
Bill to progress through the legislative process before Parliament is dissolved
ahead of the General Election on 8 June.

So what is the current state of
the law?Are the relevant pre-6 April
2017 tax laws still in force?Are
non-doms who have been resident here in the UK for 15 out of the previous 20
tax years now deemed domiciled, or can they still make use of the remittance
basis of taxation?Does foreign
corporate ownership of UK residential property still provide a UK Inheritance
Tax (IHT) shelter or not?

About Me

I'm a partner at Fladgate LLP, a London law firm, and specialise in advising British and overseas families and entrepreneurs who want to protect their wealth and successfully pass it down to the next generation.